<p> Ten Trillion and Counting Viewing Guide Name: ______Date: ______Directions: Answer the following questions using the film Ten Trillion and Counting Film. You have to work to understand and then think critically about the answers.</p><p>1. What is a budget deficit?</p><p>2. What is the total national debt as of Obama’s inauguration day? ______</p><p>3. Name three countries that loan money to the U.S. government. What instruments do they receive to guarantee their loans?</p><p>4. According to Greg Ip of The Economist, President Bush's economic policy of cutting taxes and spending through borrowing was "politically smart" rather than "economically smart." Do you agree or disagree? Explain.</p><p>5. Why do you believe Ronald Reagan passed one of the largest tax increases during his administration?</p><p>6. How did the U.S. government pay for the wars in Afghanistan and Iraq?</p><p>7. What impact did spending for the wars in Iraq and Afghanistan have on the budget deficit? Ten Trillion and Counting Viewing Guide</p><p>8. Explain the idea behind the Republican “starve the beast” philosophy. </p><p>9. On several occasions, a balanced budget amendment has been proposed as law but not passed by Congress (similar to PAYGO). What would be the advantages and disadvantages of having such a law?</p><p>10. Most economists agree that both tax cuts and additional spending are needed to stimulate the economy in a time of recession. In what ways does each of these policies stimulate the economy?</p><p>11. How did Republicans in Congress responding to President Obama's proposed stimulus package? Why do you believe they respond this way?</p><p>12. What are the names of the so called “entitlement” programs?</p><p>13. What type of people receive the majority of the benefit of these programs?</p>